Course in Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF)

The primary objective of this AML/CTF training course is to provide healthcare professionals with a thorough grounding in the key concepts, regulations, and best practices for combating money laundering and the financing of terrorism within medical and healthcare settings. By the end of the course, participants will:

• Gain a comprehensive understanding of AML/CTF principles and regulations, including the AML/CTF tranche 2 reforms.
• Learn how to identify and assess money laundering risks within healthcare environments and the specific typologies associated with medical transactions.
• Understand the legal framework governing AML/CTF transaction monitoring and develop the skills necessary to monitor, analyze, and report suspicious activities.
• Learn the implications of AML/CTF tipping off and how to navigate the legal requirements surrounding it in healthcare practices.
• Become proficient in recognizing AML/CTF typologies specific to the healthcare sector and how to detect early warning signs of illicit financial activities.
• Master the requirements for AML/CTF training certificates, including the necessary documentation for compliance audits.
• Understand how to implement a compliance program tailored to your healthcare organization’s specific needs while ensuring adherence to AML CTF rules and AML CTF regulations.

Ultimately, this training will prepare participants to effectively respond to the challenges posed by financial crimes in the healthcare industry, ensuring that their organizations can operate within the boundaries of the law while maintaining a commitment to ethical conduct.

Target Audience

This AML/CTF training course is aimed at professionals in the healthcare industry who are involved in financial and operational decision-making, as well as those responsible for implementing compliance measures within healthcare organizations. The following individuals will benefit most from attending this course:

• Healthcare Executives and Managers: Senior leaders and decision-makers in hospitals, clinics, and medical centers who are responsible for maintaining compliance with financial regulations.
• Compliance Officers and Managers: Individuals tasked with ensuring that healthcare organizations meet regulatory requirements and stay compliant with the latest AML/CTF regulations.
• Financial Controllers and Accountants: Medical professionals overseeing financial transactions who need to detect and prevent money laundering and terrorist financing risks in the financial flows within healthcare settings.
• Healthcare Lawyers and Legal Advisors: Legal professionals who require an in-depth understanding of AML and CTF regulations in order to support their organizations with legal compliance.
• Pharmacy Professionals and Supply Chain Managers: Those involved in purchasing and financial transactions with pharmaceutical suppliers and manufacturers, who may encounter risks related to money laundering or terrorist financing.
• Medical Auditors and Risk Management Personnel: Those responsible for evaluating and auditing the financial activities within healthcare institutions and ensuring that anti-money laundering and counter-terrorism financing measures are in place.
• Healthcare IT and Fraud Prevention Teams: Professionals working in technology, data security, and fraud detection, who play a key role in implementing monitoring systems to identify and flag suspicious financial activities.

Given the ever-expanding regulations and the

The AML/CTF training course at LMEA covers the essential aspects of anti-money laundering and counter-terrorism financing regulations, with a focus on practical applications within the healthcare sector. The course content is designed to be both comprehensive and actionable, ensuring that participants can immediately apply what they have learned to their daily operations.

Introduction to AML/CTF Regulations

• Overview of money laundering and terrorism financing: Definition, risks, and consequences.
• The role of healthcare organizations in preventing money laundering and terrorism financing.
• Key global and local regulatory frameworks (e.g., FATF recommendations, national laws, and regulations).
• Introduction to AML/CTF rules and AML/CTF regulations governing the healthcare industry.

AML/CTF Tranche 2 Reforms

• An in-depth examination of the AML/CTF tranche 2 reforms and their impact on healthcare organizations.
• Updates to due diligence requirements for financial transactions in healthcare.
• Changes in reporting obligations and enhanced monitoring requirements.
• How to comply with these reforms and align internal processes with updated legal frameworks.

Identifying Money Laundering and Terrorism Financing Risks in Healthcare

• Common AML/CTF typologies in the medical field: Identifying suspicious activities in patient transactions, insurance claims, pharmaceutical procurement, and international payments.
• The role of medical professionals in recognizing and reporting unusual financial behavior.
• Understanding the impact of high-value transactions and how to flag suspicious payments and transfers.

AML/CTF Transaction Monitoring

• Overview of transaction monitoring systems and best practices.
• How to monitor transactions for signs of money laundering or terrorism financing in a medical context.
• Setting up and using monitoring software to track patterns of financial activity.
• Techniques for analyzing financial data and detecting unusual trends or transactions.

AML/CTF Tipping Off and Reporting Obligations

• Legal implications of AML/CTF tipping off: Understanding the risks and responsibilities associated with reporting suspicious activities.
• Best practices for managing reporting obligations without breaching confidentiality or tipping off suspects.
• The process of filing Suspicious Activity Reports (SARs) and how healthcare organizations can manage this process efficiently.

Practical Application of AML/CTF Regulations

• Developing an internal AML/CTF compliance program for medical organizations.
• Creating effective procedures for staff training, monitoring, and compliance audits.
• Building a culture of compliance: Engaging leadership and staff in anti-money laundering and counter-terrorism financing efforts.
• How to prepare for compliance audits and ensure continuous alignment with AML/CTF rules.

Certification and Final Assessment

• Participants will complete a final assessment to evaluate their understanding of the course content.
• Upon successful completion, participants will receive an AML/CTF training certificate, validating their proficiency in compliance with anti-money laundering and counter-terrorism financing regulations.